Renewable energy stocks gain amid CRESS surcharge reduction
Renewable energy stocks in Malaysia, including Samaiden Group and Solarvest, rose following a reduction in the CRESS system access charge. Analysts expect the lower costs to incentivize data centers to adopt solar energy solutions.
Why it matters
The policy change demonstrates how government energy regulations can directly impact market performance and the adoption of green technology in the data center sector.
BURSA SGX Home Hot Stocks Make The Edge Malaysia your preferred source on Google KUALA LUMPUR (Sept 23): Renewable energy stocks climbed on early session on Wednesday, led by Samaiden Group Bhd (KL: SAMAIDEN ) following the recent announcement of the CRESS Acceleration Package.
Samaiden jumped 17 sen or 7% to RM2.51, while Solarvest Holdings Bhd (KL: SLVEST ) rose 14 sen or 4% to RM3.84.
On Sept 18, the Ministry of Energy Transition and Water Transformation (Petra) lowered the CRESS System Access Charge (SAC) for firm supply to 14 sen/kWh, from 20 sen/kWh currently.
Qualifying projects must achieve Commercial Operation Date (COD) by Dec 31, 2028 and enter into a minimum 10-year developer-offtaker contract. Projects that miss the deadline will revert to the prevailing SAC and terms, with no extension allowed.
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